Eaton Vance California Municipal Income Trust Announces Earnings Results for the Three and Nine-Month Periods Ended August 31, 2012
November 12, 2012 at 04:12 pm
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Eaton Vance California Municipal Income Trust announced earnings results for the three and nine-month periods ended August 31, 2012. For the three months ended August 31, 2012, the Trust had net investment income of $1,435,623 or $0.198 per common share. From this amount, the Trust paid dividends on preferred shares of $32,308 equal to $0.005 for each common share, resulting in net investment income after the preferred dividends of $1,403,315, or $0.193 per common share. In comparison, for the three months ended August 31, 2011, the Trust had net investment income of $1,671,645 or $0.231 per common share. From this amount, the Trust paid dividends on preferred shares of $26,722 equal to $0.004 for each common share, resulting in net investment income after the preferred dividends of $1,644,923, or $0.227 per common share. Net realized and unrealized gains for the three months ended August 31, 2012 were $1,793,335 or $0.247 per common share. In comparison, net realized and unrealized gains for the three months ended August 31, 2011 were $2,434,431 or $0.343 per common share.
The Trust's net investment income for the nine months ended August 31, 2012 was $4,352,264 or $0.600 per common share, before deduction of the preferred share dividends totaling $0.013 per common share, resulting in net investment income after the preferred dividends of $0.587 per common share. The Trust's net investment income for the nine months ended August 31, 2011 was $5,126,412 or $0.709 per common share, before deduction of the preferred share dividends totaling $0.018 per common share, resulting in net investment income after the preferred dividends of $0.691 per common share. The Trust's net realized and unrealized gains for the nine months ended August 31, 2012 were $12,428,962 or $1.714 per common share.
Eaton Vance California Municipal Income Trust (the Fund) is a non-diversified, closed-end management investment company. The Fundâs investment objective is to provide current income exempt from regular federal income tax and California state personal income taxes. The Trust may invest in residual interest bonds whereby the Trust may sell a variable or fixed rate bond for cash to a Special-Purpose Vehicle (the SPV), while at the same time, buying a residual interest in the assets and cash flows of the SPV. The Trust invests primarily in debt securities issued by California municipalities. The Fundâs portfolio of investments includes various sectors, including general obligations, insured-education, healthcare, electric utilities, insured-escrowed/prefunded, airport, insured special assessment, special tax, water and sewer, public power, senior living/life care, special assessment and transportation. Eaton Vance Management acts as the Fundâs investment advisor.